Plan G is supplemental medical insurance for Medicare beneficiaries. Original Medicare – Part A and Part B – does cover the cost of a lot of medical-related expenses, but it doesn’t cover everything; coinsurance, copayments, and deductibles for example.

Medicare beneficiaries must pay for these expenses themselves. As you can imagine, these out-of-pocket expenses can become quite pricy, but that’s where Medicare Supplement Insurance can help.

Medicare Supplement Insurance is also referred to as “Medigap” insurance, as it covers the “gaps” that Original Medicare doesn’t cover.

There are a total of 10 standardized Medigap policies; letters A through N.

Plan G is one of the most popular Medicare Supplement Insurance policies, as it offers comprehensive coverage and can significantly reduce out-of-pocket expenses for Medicare beneficiaries.

If you’re a new Medicare member and you’re thinking about purchasing supplemental insurance, Plan G may be the right option for you.

What does Plan G cover? How does it work? Who is it for?

Below, you’ll find the answers to these questions and more so that you can determine if Plan G Medicare Supplement Insurance is, indeed, the best choice for you.

As stated above, Medicare Supplement Insurance plans are designed to cover the medical expenses that Original Medicare doesn’t cover.

These plans, which are sold by private health insurance companies, are intended to reduce out-of-pocket expenses for Medicare beneficiaries.

Private insurance companies that sell these plans must standardize them, as per the US federal government. Massachusetts, Minnesota, and Wisconsin are the exception to this rule, as these states standardize Medigap plans differently.

There are a total of 10 Medigap plans, which are named by letter, and include A, B, C, D, F, G, K, L, M, and N.

Coverage and rates vary from plan to plan. Plan G is one of the most comprehensive of all Medigap plans, as it covers the most out-of-pocket expenses, and as such, it can help you save a significant amount of money.

What Plan G Medicare Supplement Insurance Covers

Plan G covers a lot of what Medicare Part A and Part B don’t cover. Additionally, the coverage is subsidized, meaning that it provides the same coverage anywhere in the United States that accepts Medicare; for example, whether you use it in New Mexico or Connecticut, you’ll receive the same coverage.

Plan G Medicare Supplement Insurance pays for the following medical expenses that Original Medicare doesn’t pay for:

•         Part A deductible
•         Part A hospital coinsurance for 365 days after Part A benefits have been used
•         Part A hospice copayment or coinsurance
•         Skilled nursing facility coinsurance
•         Part B copayment or coinsurance
•         Part B excess charges
•         Medical emergencies while traveling abroad (limits apply)
•         First three pints of blood for transfusions needed for medical procedures

Medicare Part B Excess Charges

The majority of Medigap insurance plans don’t cover Part B excess charges; Plan G, however, does, which is a feature that makes this supplemental Medicare policy truly unique.

With Plan G, you will be able to see medical providers who don’t participate in Medicare, but who charge as much as 15 percent higher than Medicare-approved rates.

In the event that you see a provider who does charge excess rates, rather than having to pay for the difference yourself, Plan G will cover it for you.

Medical Emergencies While Traveling Abroad

Another element that makes Plan G Medicare Supplement Insurance unique is that it covers emergency health care while you are traveling outside of the United States.

If you’re traveling abroad and require emergency care that is deemed medically necessary, Medigap Plan G will cover up to 80 percent of the cost.

Do note, however, that you will be required to pay a $250 deductible before the benefits kick in, and the emergency medical care does need to take place within 60 days of your travels. Additionally, there is a lifetime limit of $50,000.

Out-of-Pocket Limit

Medicare Part A and Part B – Original Medicare – do not charge an out-of-pocket limit, and neither does Medigap Plan G.

The purpose of this is to prevent you from spending an excessive amount on health care that Plan G covers within the span of a year.

Of the 10 different Medicare Supplement Insurance policies, Plan G offers the most comprehensive coverage; however, it won’t cover everything that isn’t paid for by Original Medicare.

If you decide to purchase this plan, you will be responsible for covering the following expenses out of your own pocket:

• Deductible for Medicare Part B
• Prescription drugs
• Private-duty nursing assistance
• Long-term care (non-skilled care in nursing homes, etc.)
• Dental care
• Eye care, including prescription lenses

Who is Plan G Medicare Supplement Insurance Ideal For?

Anyone who is enrolled in Medicare can benefit from Plan G Medigap coverage; however, this supplemental insurance is particularly ideal for:

• Anyone who would like to enjoy ease when it comes to paying for their medical care. Since Plan G covers virtually all out-of-pocket expenses, with a few exceptions, premiums are really the only thing you’ll need to worry about paying.
• Medicare beneficiaries who want to see any healthcare provider they would like to without having to worry about being hit with additional fees. That’s because Medigap Plan G is one of the only Medicare Supplement Insurance plans that pays for additional charges from medical professionals who don’t accept Medicare (known as Part B excess charges).
• Individuals who travel abroad on a regular basis, as Medigap Plan G will cover 80 percent of overseas emergency medical care (after a $250 deductible has been paid).

How to Enroll in Medicare Plan G Supplement Insurance

In order to purchase Plan G, you have to be enrolled in Original Medicare.

The ideal time to sign up is during the Medicare Open Enrollment period, as you’re guaranteed to be accepted during this time, no matter the status of your health.